L&T Mutual Fund has launched L&T Short Term Debt Fund, an open ended debt scheme.

The investment objective of the scheme is to generate returns for investors with a short-term investment horizon by investing in fixed income securities of shorter term maturity. The new issue closes on 21st December. The minimum investment amount is Rs5,000.

CRISIL Short Term Bond Fund Index is the benchmark index. Bekxy Kuriakose is the fund manager.

The primary objective of the plans under the scheme is to seek to generate returns by investing in a portfolio of fixed income securities/debt instruments. The secondary objective of the scheme is to generate long term capital appreciation by investing a portion of the scheme’s assets in equity and equity related instruments. The tenure of the scheme is 1,100 days.

The new issue closes on 15th December. The minimum investment amount is Rs5,000.

CRISIL MIP Blended Index is the benchmark index. The fund manager Chaitanya Pande will manage the debt portion of investments under the scheme. The equity portion will be managed Mrinal Singh.

However, the index recorded a 7% growth in November in comparison to the same period a year ago, leading job portal Monster.Com said. “... A slightly more cautious approach by companies in view of the economic scenario is evident by the easing of online demand levels from October to November,” Monster.Com managing director (India/West Asia/South-East Asia) Sanjay Modi said.

Banking, financial services and insurance registered significant month-on-month growth of 15% following a dip in activity in the previous month, owing mainly to sharp growth in the insurance sector, it noted.

According to Monster.Com, hiring activities declined in the IT hardware and software sectors last month, compared to October. Modi pointed out that the employment index showed continued positive growth in recruitment activity from an annual perspective, led by key industries like telecom IT, and financial services.

In terms of cities, Bangalore registered “the first positive month-on-month growth in recruitment activity since July 2011”.